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The Independent Petroleum Marketers Association of Nigeria, IPMAN, has urged Nigerians to avoid panic buying, assuring them that there is enough fuel in the country.
IPMAN Publicity Secretary, Mr Ukadike Chinedu, stated this on Sunday in Abuja.
Chinedu commended the Dangote Petroleum Refinery for reducing the price of its Premium Motor Spirit (PMS), also known as petrol, to N899.50 per litre.
Read Also: Fuel To Sell ₦935 Per Litre Nationwide From Monday – IPMAN
According to him, the gesture would help reduce transportation costs for Nigerians ahead of the yuletide holidays.
“You see, that is the beauty of deregulation. Prices are determined by market forces.
“With the Dangote and Federal Government refineries in operation, this will bring about competitive pricing,” Chinedu said.
He urged all IPMAN members to adjust their pumps to the new price to attract more customers.
The Eastern Updates recalls that the Dangote Refinery had reduced its petrol price to N970 per litre in November.
In other news, the Independent Petroleum Marketers Association of Nigeria, IPMAN, has announced that the pump price of petrol will reduce to ₦935 per litre by Monday.
The development, according to IPMAN, follows the marketers’ new deal with Dangote Refinery.
IPMAN National President, Alhaji Maigandi Garima, who made this known on Sunday in Abuja, commended the Dangote refinery for the development
According to him, the new price was necessitated by the reduction in Dangote Refinery’s fuel ex-depot price and uniform arrangement, which would enable marketers to sell at N935 in their outlets nationwide.
